Opposition parties are all set to raise the issue of financial scams involving public sector banks to corner the government in Parliament when the second part of the Budget session resumes on Monday.
For PM’s statement
Parliament could see disruptions if the government does not agree to the Opposition demand calling for an explanation from Prime Minister Narendra Modi on how diamond trader Nirav Modi and his business partner Mehul Choksi defrauded the public sector Punjab National Bank (PNB) and other banks to the tune of ₹22,000 crore under his watch.
Calling it the Chhota Modi scam, the Congress said the government’s claim of being an anti-corruption crusader was in shambles and that’s why it arrested Karti Chidamabaram, son of former Finance Minister P. Chidambaram.
Speaking to The Hindu , Deputy Leader of the Congress in the Lok Sabha Anand Sharma said, “The government will have to answer serious questions on the bank scams.”
Fresh regulatory law
To counter the criticism, the government will introduce a new law — the Fugitive Economic Offenders Bill —that allows authorities to attach properties of offenders who are declared as fugitives.
The morale boosting results of the Assembly elections in three northeastern States will also help the government take on the opposition.
“In a democracy, the best answer to all those who spread rumours, fear and lies are given by the voters. And democracy had given its answer,” Mr. Modi had said on Sunday after the results of the Assembly polls.
No strategy meeting
The Opposition is yet to hold a joint strategy meeting but Trinamool Congress' Leader in the Rajya Sabha Derek O’Brien, said they wanted answers on a range of issues.
“The BJP still has to answer serious questions on the economy, jobs and on a certain namesake absconding in New York. Or is it Antwerp? Wherever he is, it is certainly a long way from Agartala,” said Mr O’Brien, indicating that election victory in Tripura won't make things easy for the BJP.
CPI leader D. Raja said the issue of the PNB fraud and subsequent revelations of other bank frauds have put a question mark on the sector. “The banking sector is in a deep crisis and its credibility is under stake,” he said.
Opposition parties are likely to hold a meeting soon to work out a joint strategy. Apart from the alleged financial sector scams, issues of rising crimes against Dalits and women, the agrarian crisis, the economy and unemployment are also likely to be raised by the Opposition.
